This story originally appeared on Zacks
Haverty Furniture (HVT) closed at $30.51 in the latest trading session, marking a -1.07% move from the prior day. This move lagged the S&P 500’s daily gain of 0.62%. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the residential furniture and accessories retailer had lost 5.28% over the past month, lagging the Retail-Wholesale sector’s loss of 4.49% and the S&P 500’s gain of 0.87% in that time.
Investors will be hoping for strength from Haverty Furniture as it approaches its next earnings release. On that day, Haverty Furniture is projected to report earnings of $1.22 per share, which would represent a year-over-year decline of 10.95%. Our most recent consensus estimate is calling for quarterly revenue of $265.5 million, up 10.01% from the year-ago period.
HVT’s full-year Zacks Consensus Estimates are calling for earnings of $4.78 per share and revenue of $1.01 billion. These results would represent year-over-year changes of +154.26% and +35.29%, respectively.
It is also important to note the recent changes to analyst estimates for Haverty Furniture. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Haverty Furniture currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Haverty Furniture is currently trading at a Forward P/E ratio of 6.38. Its industry sports an average Forward P/E of 14.18, so we one might conclude that Haverty Furniture is trading at a discount comparatively.
The Retail – Home Furnishings industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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